House builder in ‘strong position’

ANDREW Bowes, managing director of Persimmon Homes Yorkshire, says an increase in underlying profit, strong cash flow and a major announcement to return capital of £1.9bn to shareholders over the next decade, puts the company in a strong position.

“Persimmon’s strategy has been to deliver improving operating margins, invest in high quality land, increase profitability and generate surplus cash to pay down debt.

The sales rate per site in the first eight weeks of 2012 is 22 per cent up on last year’s figures.

This year, Persimmon Homes is working on developments in Norton, Pickering, Holton-le-clay and Withernsea.